- Negotiations
In May 2007, the European Union and South Korea started negotiating a bilateral free trade agreement. It took effect on 1 July 2011.
This deal is part of the EU’s post-2006 "Global Europe" strategy to boost the competitiveness of EU corporations in the world by securing deeper commitments to neoliberal policies from trading partners, including expanded rights for European transnationals. In Korea, the European Union is trying to win equal, if not better, footing against US firms after the conclusion of the US-Korea FTA. (The EU makes stronger demands than the US on Korea in the areas of intellectual property, services, competition policy and environmental standards.)
Social movements from both sides mobilised against the deal’s potential impacts. One flashpoint of concern is for Korea’s agricultural sector, where pig farmers in particular are expected to suffer from an influx of subsidised EU pork as a result of this deal.
last update: May 2012
photo: European External Action Service - EEAS/CC BY-NC-ND 2.0
11-May-2008
Delegations from South Korea and the European Union will get together for a new round of the free trade agreement (FTA) talks starting today in Brussels, Belgium.
15-Apr-2008
Trading Markets
Top trade officials from South Korea and the European Union (EU) plan to meet in Japan next week to discuss how both sides will carry out the ongoing free trade negotiations
29-Jan-2008
Korea Times
Under EU-suggested rules, a product would be considered as coming from a trading partner only when at least 60 percent of the value of the finished item is added in that country. South Korean negotiators want the ratio to be lowered to 40 percent, as a number of manufacturers in the country outsource many components from neighboring countries such as China to cut costs.
24-Nov-2007
Reuters
The European Union’s top negotiator in free trade talks with South Korea said Korea was proposing measures that would hurt European car exporters, possibly undermining the chances of a deal.
22-Nov-2007
South Korea has been urged to strengthen its intellectual property rules in order to sign a free trade agreement with the European Union.
21-Nov-2007
Free trade negotiations between South Korea and the European Union have hit a snag as both sides failed to make headway over auto-related technical standards, one of the stickiest issues in their trade talks.
20-Nov-2007
Hankyoreh
South Korea’s chief negotiator in free trade talks with the European Union (EU) said on Monday that Seoul will redouble its efforts to make a breakthrough on some sticky issues, including a dispute over auto trade, and called for an "equal" effort from Brussels.
16-Nov-2007
Asia Pulse
The Ministry of Agriculture and Forestry said that rice will be exempted from free trade agreement talks altogether, while Seoul will stress the need to hold onto some protection for grain, vegetables and fruits.
15-Nov-2007
Chosun Ilbo
Korea plans to accept a number of the European Union’s demands for lifting tariffs on EU goods in the fifth round of the Korea-EU free trade agreement talks slated for Nov. 19 in Brussels
14-Nov-2007
Chosun Ilbo
Korea’s top negotiator to trade talks with the EU wants a deal to be concluded by year’s end.
